Finance news – Page 525
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NewsMedia Bites 19 April: Weetabix, snap election, House of Fraser
The £1.4bn acquisition of British cereal maker Weetabix by US firm Post Holdings generates significant column inches in today’s papers but was overshadowed by the calling of a surprise snap election.
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NewsCity snapshot: ABF scores Brexit boost from weak pound and higher sugar prices
The weak pound and higher sugar prices have boost sales and profits at ABF in the first half. Plus, Tesco sells opticians business to Vision Express, and Heineken updates on first quarter volumes, with UK down on Tesco delisting.
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NewsSurging pound leads to FTSE 100 sell-off after snap election surprise
The FTSE 100 plunged more than 180 points yesterday (or £46bn) to 7,147.50 points as PM Theresa May called a surprise snap election on 8 June
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NewsHundreds of redundancies at Pulse Packaging despite production restarting
More than 150 staff have lost their jobs at consumer goods packaging maker Pulse Flexible Packaging despite administrators recommencing manufacturing at the firm’s two sites.
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NewsACS welcomes general election opportunity to tackle rates
“It is essential that action is taken to reform the business rates system and help retailers to invest” said James Lowman
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NewsVolatile day for sterling as PM calls snap election
The surprise announcement is set to lead to a volatile day on the markets and for the pound.
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NewsPost Holdings seals £1.4bn Weetabix deal
US cereal group Post Holdings has announced it has secured a £1.4bn buyout of Weetabix from its former Chinese owners.
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NewsPost Holdings announces £1.4bn Weetabix deal
Weetabix has been bought by US listed cereal manufacturer Post Holdings – as forecast by The Grocer - for US$1.76bn (£1.4bn)
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NewsMedia Bites 18 April: Tesco/Booker, Weetabix, Bernard Matthews
The boss of Bestway has raised fresh doubts about Tesco’s £3.7bn merger with Booker by highlighting that the latter’s corner shop owners are obligated to buy two thirds of their produce from the wholesaler.
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NewsLDC shows appetite for food deals with MBO at Hill Biscuits
Private equity firm LDC has backed the management buyout of custard creams and bourbons maker Hill Biscuits, in a deal valued at £10m to £15m, The Grocer can reveal.
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NewsTesco continues turnaround journey but the City proves hard to please
Analysts hailed Tesco’s turnaround under the leadership of Dave Lewis on Thursday
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NewsAmplify files trademark lawsuit to stop US launch of Metcalfe's Skinny Popcorn
The US owners of Tyrrells and Metcalfe’s Skinny are facing a court battle over their rival popcorn brands
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NewsLaila's Fine Foods expands workforce as sales soar 45%
Fast-growing ready meals supplier Laila’s Fine Foods has posted another year of stellar sales growth
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NewsYoung's boss insists business is 'performing solidly'
CEO Bill Showalter insists business is on sound financial footing amid claims of ‘broken’ capital structure
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NewsWhitworths sale will mean private equity investor takes a bath
With Whitworths up for sale, its private equity owner is set to take a bath on its investment
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NewsCity snapshot: LDC poised for £100m Addo deal
Private equity house LDC is closing in on a takeover of Vision-owned pork pie supplier Addo Food Group worth over £100m. Plus, Saucy Fish Co owner Icelandic Seachill prepares for sale, PZ Cussons on target to hit full-year targets and all the rest of the latest news from the City.
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NewsMedia Bites 13 April: Tesco, WH Smith, Lidl
“Tesco puts (much of) its past behind it” is the headline in The Times (£) this morning as the papers absorbed Tesco’s first UK sales growth for six years and a plunge in its share price.
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NewsLDC closes in on £100m-plus deal for pork supplier Addo
Private equity house LDC is closing in on a takeover of pork pie supplier Addo Food Group to add another food business to its portfolio
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NewsBrewDog crowded out as private equity snaps up 22% stake
BrewDog – which swore it would never ‘sell out’ to institutional investors – has sold a 22% stake to a US PE house
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NewsAF Blakemore and High Noon battle over forecourt proceeds
Blakemore paid £376,000 to High Noon in November 2016 to help pay for wages and fuel